Noida-based real estate developer CRC Group has unveiled its latest venture – CRC Flagship, a commercial development offering office and retail spaces along with studio apartments. Situated in Sector 140A, Noida, the project has an estimated revenue projection of Rs 1200 crore.
Located in Sector 140 A, Noida, Uttar Pradesh, CRC Group has acquired an expansive 11-acre plot to realize this Grade-A integrated IT/ITeS commercial project. Founder and CEO of CRC Group, Kunal Bhalla, revealed that the development will comprise 12 lakh square feet of contemporary office spaces, along with 4 lakh square feet of prime retail space and 102 serviced apartments.
Bhalla said that the office spaces will be available for sale, while the retail segment will be offered on a leasing model.
The retail segment promises a unique blend of high-street shopping experiences and climate-controlled environments, featuring a food court, prominent anchor shops, and vanilla shops available on a leasing model. This retail space is poised to set new standards in shopping experiences for Noida and Greater Noida.
“We are anticipating a revenue of Rs 1,200 crore from this ambitious project,” Bhalla announced during a press briefing on Wednesday. He further disclosed that the estimated project cost is anticipated to be in the range of Rs 750-800 crore.
Presently, CRC Group is engaged in the construction of projects spanning a total of 72 lakh square feet. The company has secured prime real estate in Greater Noida West, collaborated with Jaypee for the development of a high-end, ultra-luxury residential complex with a golf course view, and has plans underway for a mixed-use land parcel, exclusively on a lease basis, in Noida along the Expressway.